Banking is one of the most satisfying jobs available today. The first step for people who want to get into this promising field is to get an associate’s degree in banking. Students who wish to help others reach their goals, use math, build relationships with customers, and figure out how to balance short-term and long-term budgets should get an associate in banking and finance. An associate’s degree in banking teaches important banking and finance skills like risk management, capital-raising strategies, securities markets, estate planning, baking technology, human resources, leadership, and more.
Why an Associate’s Degree in Banking?
Many people who work in banking get their first job after earning an associate degree. Students who get a degree in banking will learn a lot about the modern banking industry, which will help them become knowledgeable and trustworthy bankers. According to the U.S. Bureau of Labor Statistics, bankers need analytical skills, people skills, math skills, selling skills, and speaking skills to do well in their jobs. The BLS also says that people who want to move up in the banking industry should take courses on investments, taxes, estate planning, and managing risks.
Inside an Associate Degree Program in Banking
Depending on the program, the pace may vary, but most students finish their associate degree in banking in two years. Students are expected to take general studies courses in English, math, history, science, and social studies during the first year of their degree program. After they finish, students take courses closer to their major to complete their degree. Personal finance, money and banking, an introduction to financial institutions, and banking operations are all popular classes in banking.
Not all students are suited for traditional degrees. Some are better suited to an online format, where courses can be taken from anywhere to accommodate schedules and priorities that don’t always line up. Like most online degrees, banking courses use a mix of slideshows, podcasts, pre-recorded video lectures, and PDFs to teach students. Students mostly talk to their teachers and peers through email and Blackboard forums.
What’s Next for People with a Degree in Banking?
With an associate’s degree in banking, students will be ready for entry-level jobs in banking. The average salary for a personal financial advisor is $108,090 per year, with the lowest 10 percent making an average of $35,500 and the highest 10 percent earning an average of more than $185,000. Some bankers also choose to be their bosses and work as financial advisors. They often only get paid through commissions. The BLS says that from 2014 to 2024, the number of jobs for bankers is expected to grow by 30%, which is much faster than other jobs. This growth is likely to happen because baby boomers are getting older and will soon need help with financial planning as they reach retirement age and after they retire.
Most financial institutions want their employees to have certain certifications and skills, so many students choose to get a bachelor’s degree in banking or a related field after earning their associate’s. For example, the Certified Financial Planner Exam requires students to have at least three years of relevant work experience and a bachelor’s degree before testing for certification. A master’s degree in banking is highly recommended for bankers who want to move up and become managers or leaders.